Equity Capital Markets Investment Manager

Overview

Heights Capital Management Asia (HCMA), an investment team within Susquehanna International Group (Susquehanna), is hiring an Equity Capital Markets Manager for our Hong Kong office. We support great founders and managers growing companies across Asia-Pacific with flexible capital. You join a dynamic and cohesive team under one of the world's largest pools of permanent capital, in an entrepreneurial role where results matter more than facetime. Success requires a sophisticated, practical understanding of Asia-Pacific equity and equity-linked capital markets, the judgment to navigate complex, multi-party deals, and the drive to win where the best opportunities are competitive.

The Role

You help us source the companies and financing opportunities worth backing. Day to day, that begins in equity capital markets: building deep relationships with the banks and brokers who captain ECM deals across Asia-Pacific by being genuinely useful to them. That means catalyzing deals, giving timely and independent feedback, managing expectations early, and helping ECM deals close predictably and with integrity. It is steady, consistent work that compounds over time, and it rewards judgment over words and bravado.

Some of those relationships lead to privately negotiated investments in listed companies, where our permanent, flexible capital matters most. We have a strong track record of backing companies through multiple capital raises over the long term, taking significant market risk, and customizing investments to help founders and managers execute their strategies on their own timelines. You do not need to have done these deals before. If you have worked on convertibles, equity-linked deals, or corporate derivatives, you already understand the building blocks. Working alongside the broader HCMA team, you will contribute to evaluating opportunities, support companies beyond the close, and help grow HCMA. We want someone who thinks independently but works cooperatively, inside and out, to help everyone involved make great decisions.

Responsibilities

• Relationship Management: Build and maintain strong relationships with issuer founders and management, institutional partners, bankers, and brokers, across both Asia-direct channels and international capital market syndicates, so that Heights is well positioned with all the decision makers and stakeholders.
• Opportunity Identification: Work with the broader Heights team, bankers, and brokers across the full range of deals, from regular-way ECM to privately negotiated investments.
• Due Diligence: Conduct thorough diligence on target companies, including meeting management teams, site visits, sector analysis, credit analysis, and market research, to judge each opportunity and assess its risks.
• Transaction Execution: Work deals from the investor's side of the table: taking wall-crosses, handling NDAs, negotiation, structuring, closing, and post-investment support.
• Communication: Prepare thoughtful, well-supported analysis and presentations for founders, management teams, and internal discussions. We value intellectual honesty, rigorous analysis, and a willingness to challenge assumptions.
• Market Analysis: Monitor market trends and developments to spot new opportunities and stay ahead of industry change.

What we’re looking for

Must have

• Substantial experience (typically around seven years or more) in equity capital markets, investment banking, or a closely related field, with a real track record of sourcing, negotiating, and executing deals. We care more about the depth and quality of that experience than the number of years.
• A mind that thinks in instruments and structures, not just single-period valuation multiples, fluent in at least one of convertibles or equity-linked securities, options or corporate derivatives, or other structured-equity instruments, and able to see how a structure shifts risk and reward between a company and its investors. You do not need to have done PIPEs or private placements; we teach you that.
• Direct relationships with company management, IR, and the banks and brokers who run deals across Asia.
• Respect for the market and a close read of consensus, with the confidence to offer your own independent, rational judgments even when unpopular, to help everyone make the best decisions.
• Strong analytical skills, with the competence and enthusiasm to read financial statements and legal documents carefully.
• Fluent English, our working language. Because the role involves engaging directly with brokers, founders, and management across Asia-Pacific, fluency in one or more additional regional languages relevant to our markets may be advantageous. We are open-minded on the combination and assess language skills against the needs of the role, regardless of background.
• Proficiency in Bloomberg, Excel, and PowerPoint, and in leveraging AI to improve productivity and creativity. A degree in finance, economics, engineering, or a related field; a JD, MBA, or CPA would be a plus.

Nice to have

• Experience with PIPEs, private placements, or other privately negotiated investments.
• Interest in technology, biotech, or other high-growth industries.
• Intellectual curiosity, a drive to keep learning, and creative problem-solving.
• Comfortable with people at every level of seniority, and at home in a flat, entrepreneurial, multicultural team.

What We Offer

• We teach. Several of our team came from the sell side and learned structured, principal investing here, mentored by people who have done it for decades.
• A results-focused environment where contribution matters more than facetime. We measure what you actually sourced, judged, taught, and turned into workflows that build the business.
• As part of a small, entrepreneurial Asia team, you help shape how we work and contribute to the growth of HCMA, while drawing on the resources and stability of one of the world's largest pools of permanent capital.

Company Description

HCMA is an affiliate of Susquehanna, one of the world's largest privately held financial services firms. Susquehanna is a global quantitative trading firm founded by a group of friends who share a passion for game theory and probabilistic thinking. That approach runs through our culture: in each of our core disciplines, Trading, Technology, and Quantitative Research, you find relentless problem solvers who collaborate to make optimal decisions and who are driven to achieve winning results together.

Equal Opportunity Statement

Heights Capital Management Asia is an equal opportunity employer. We welcome applications from all qualified candidates regardless of sex, marital or family status, pregnancy, disability, race, ethnicity, nationality, age, religion, or sexual orientation, and we make selection decisions on merit and job-related criteria alone. We are glad to make reasonable adjustments during the recruitment process so you can best demonstrate your abilities, and we treat any such request in confidence.

 

#LI-CC2 #LI-ONSITE